PORTUGAL START-UP VISA PROGRAM

StartUP Visa is a residence visa for entrepreneurs, which aims to attract to Portugal investment, talent and innovation capacity.

By investing and creating qualified employment, entrepreneurs can integrate a startup incubator in Portugal and benefit from all the incentives and support of the StartUP Portugal Program. This program aims to strengthen the innovation ecosystem and to affirm Portugal as an open country to entrepreneurship and to all those who, with their knowledge and capacity for innovation, can bring investment to the portuguese economy, capable of strengthen and enhance national skilled human resources

PORTUGAL START-UP VISA PROGRAM

WHAT KIND OF INDUSTRY/SECTOR OF BUSINESS ARE SUGGESTED BY EMPOWERED FOR THE SUV PORTUGAL PROGRAM?

Empowered will suggest a business idea, typically based on the client’s background, in one of the following sectors:

  • Biotechnology and pharmacology;
  • Commerce and consumer products;
  • Communication and media;
  • Electronics;
  • Energy;
  • Industrial products;
  • Information technology (IT);
  • Medical / health.
WHERE WILL THE INCUBATION TAKE PLACE/WHERE WILL THE R&D FACILITY AND EMPOWERED BE LOCATED?

Bragança, Portugal (a little to the Northeast of Porto, which is the closest international airport).

HOW MUCH OF THE INCUBATION FEE/CAPITAL WILL BE DEPLOYED FOR THE START-UP PROJECT (HOW IS IT BROKEN DOWN)?

The Incubation Fee is EUR 175,000, of which EUR 25,000 will be used as share’s capitalization in the Portuguese business venture and pay for the business’s required services.

From one venture to another, the required services will be different, but certain basic services will be taken care of by Empowered Startups for all using the capitalization, including making the connection and obtaining authorizations with the government body and R&D facility, preparing the necessary business presentation documents together with the client, taking care of accounting, incorporation, corporate bank account opening, etc.

WHAT PERCENTAGE SHARE WILL EMPOWERED STARTUPS TAKE IN EACH NEW PORTUGUESE VENTURE?

The participation of Empowered will be minimal and no third party will be involved in the shareholding, so it is to be expected that approximately 95% will be owned by the client and 5% by Empowered.

HOW LONG IS THE INCUBATION TERM?

The Incubation has a 3-year duration, starting from the approval of the client’s Residence Permit application. In case of refusal, of course, the Incubation will not start, and the incubation fees will be refunded to the client.

HOW LONG IS THE RESIDENCE PERMIT VALID AND DOES IT NEED TO BE RENEWED?

The residence permit will be valid for 2 years, then renewed for a period of 3 years until the 5-year mark for the PR. Empowered’s incubation covers 3 years and as such they will help with the renewals of the permit

CAN FAMILY (DEPENDENTS) JOIN THE APPLICANT’S RESIDENCE PERMIT APPLICATION? WHO ARE CONSIDERED DEPENDENTS?

Once the Applicant has been granted a residence permit, it is possible to apply for residence permits for the following family members:

  • The spouse or common-law partner
  • Children under 18 years old
  • Children of 18 years old or older who are mentally incapacitated
  • Children of 18 years old or older as long as they are unmarried, financially dependent and would be enrolled as full-time students in Portugal
  • Parents financially dependent (can be spouse’s parents too)